Slope Realty Sells Mixed-Use Property In Park Slope, Brooklyn For $4.55M
396 7th Ave, Brooklyn, NY 11215, USA
$4,550,000
$628/SF
Building Size
7,244 SF
Asset Type
Mixed-use
Closing
Oct 8, 2020
About this deal
AI
The mixed-use property located at 396 7th Avenue in Park Slope, Brooklyn has been sold in a closed transaction. The property consists of 2 commercial units and 6 residential units, offering a total of 7,244 square feet. The sale price for this transaction was $4,550,000, resulting in a price per square foot of $628. This indicates a cap rate of 5.5% for the property.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,550,000
- Address: 396 7th Avenue, Park Slope, Brooklyn
- Market: Park Slope, Brooklyn
- Asset Type: Mixed-use
The seller of the property is Slope Realty. The deal was facilitated by brokers Adam Hess and Edward Setton from Meridian Capital Group.
On the Map
$4,550,000
$628/SF
Mixed-use
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Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.49%
Cash-on-Cash
-1.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93